Lithia Motors Inc Class A

LAD: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$529.00	Wwbppph	Qfnwrsbzr

Lithia Earnings: Record Revenue Offset by Profit Declines, but Growth Story Remains Excellent

David Whiston

Aug 2, 2024

Lithia Motors' second-quarter adjusted diluted earnings per share of $7.87 fell 28.2% year over year but beat the $7.03 LSEG consensus despite a $1.10 hit from the cyberattack on dealer management system vendor CDK that started June 19 and lasted into early July. CEO Bryan DeBoer said most of the $1.10 impact is from lost service business, and probably only $0.10-$0.20 of lost business will be made up this year as it’s mostly lost service work, which customers probably didn’t delay. There is also the chance of future business interruption insurance proceeds, but the timing and amount of those payouts are uncertain.

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